According to the Complaint, Mattel, Inc. is a children’s entertainment company that designs and sells toys and consumer products. Mattel’s “Power Brands” include Barbie, Hot Wheels, Fisher-Price, and American Girl.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that demand for the Company’s products, including Barbie and Hot Wheels, was declining; (2) that the Company had an excess of product supply; and (3) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On May 23, 2019, the Court issued an Order appointing Co-Lead Plaintiffs and Counsel. Co-Lead Plaintiffs filed an amended Complaint on July 8. Defendants filed a Motion to Dismiss the amended Complaint on August 22. On January 21, 2020, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given leave to amend the Complaint. On January 31, Plaintiffs voluntarily dismissed the case.